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UK horse racing to benefit from Tote sale proceeds

29th March 2012 11:51 am GMT

British horseracing is to receive a payout of £90m following last year’s sale of the Tote to Betfred, which will be distributed through a new charity and a grant scheme administered by the British Horseracing Authority (BHA).

Details of racing’s half share of the £180m net proceeds were revealed yesterday by John Penrose, the UK’s Parliamentary Under-Secretary of State for Culture, Olympics, Media and Sport.

Following discussions with the racing industry, Penrose said that it had been [...]

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